Meralco President and CEO Atty. Ray C. Espinosa formalizes the power utility’s commitment to the United Nations Global Compact, a strategic pact that encourages business and non-business institutions to align their strategies and operations with ten universal principles on bettering human rights, labor conditions, environmental stewardship, and anti-corruption measures.
The Manila Electric Company (Meralco) became the latest Filipino organization to join the United Nations Global Compact last May 2021.
The UN Global Compact, which was launched in July 2000, encourages stakeholders worldwide to align their strategies and operations to the pact’s Ten Principles, which are anchored on sustainable and socially responsible policies on the improvement of universal human rights, labor rights and freedoms, environmental consciousness, and anti-corruption efforts.
“Meralco is pleased to announce that we have joined the United Nations Global Compact initiative – a voluntary leadership platform for the development, implementation, and disclosure of responsible business practices,” said Meralco President and CEO Atty. Ray C. Espinosa.
“With this announcement, we are proud to become part of a global coalition committed to taking responsible business action to build the world we all want,” he added.
Meralco joins a growing community of over 15,000 public and private entities from more than 170 countries that have signed the UN Global Compact, currently the world’s largest corporate sustainability initiative, driven by the United Nations Sustainable Development Goals (SDGs). The SDGs are 17 interconnected aspirations that serve as a blueprint for a universally sustainable future by the year 2030.
Meralco’s participation in the pact reflects the Company’s profound commitment to the achievement of the UN SDGs. As the country’s leading electric distribution utility, Meralco greatly contributes to the achievement of SDG 7 (Affordable and Clean Energy), by providing access to fairly priced, accessible, reliable, and green energy.
Moreover, through its corporate sustainability programs aimed at “Powering the Good Life” – Meralco strongly advocates and supports other SDGs: SDG 1 (No Poverty), SDG 4 (Quality Education), SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation and Infrastructure), SDG 11 (Sustainable Cities and Communities), SDG 12 (Responsible Consumption and Production), SDG 13 (Climate Action), SDG 15 (Life on Land), and SDG 17 (Partnerships for the Goals).
“Identifying where and how our work impacts the SDGs has been instrumental for us in defining and prioritizing the areas which allow us to make a transformational difference in the lives of those we serve,” said Espinosa.